Fledgling Studio STX Secures Investment from Malone's Liberty Global
01 December 2017 - 8:10AM
Dow Jones News
By Wayne Ma
HONG KONG -- STX Entertainment, the young Hollywood studio
behind the "Bad Moms" franchise, will receive a $35 million
investment from John Malone's Liberty Global PLC that values the
studio at $1.37 billion, according to people familiar with the
matter.
The investment in STX comes ahead of its planned initial public
offering in Hong Kong next year, where the studio is seeking to
raise about $500 million at a valuation of $3.5 billion, The Wall
Street Journal has reported.
Liberty Global, based in London, is a sprawling international
basket of cable operators that has scooped up assets across the
world as it looks to position itself as a media and
content-distribution giant.
Mr. Malone's companies have made other content investments over
the past few years, which include Liberty Media Corp.'s acquisition
of Formula One, and an interest in another Hollywood studio, Lions
Gate Entertainment Corp. That studio acquired premium cable channel
Starz last year. Mr. Malone was the largest voting shareholder in
Starz.
Earlier this year, Liberty Global joined with an affiliate of
U.S. private-equity firm TPG to launch a global TV production and
distribution studio. TPG is one of STX's largest investors.
STX said in a news release early Friday, Hong Kong time, that
Bruce Mann, chief programming officer at Liberty, would join its
board of directors.
Write to Wayne Ma at wayne.ma@wsj.com
(END) Dow Jones Newswires
November 30, 2017 15:55 ET (20:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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